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Spend money on experiences, not possessions (2009)

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Re: Spend money on experiences, not possessions (2009)

#21

Post by jat850 »

gaustin wrote: post #16

How do you escape the trap? I'm not that far in. I'm 28 years old. Just got married. $42k in student loan debt. No kids. But it still feels impossible to escape the momentum of keeping up. My job pays well but not well enough to quickly escape the loan debt. That feels like the biggest barrier between me and the things I'd rather be doing (startups, travel/vagabonding, ...).

On the plus side, you're only 28. Nothing to stop you from engaging in those experiences in a few years, rather than just yet.

I was in nearly the same boat as you - debts (not student loans, misspent youth instead) and have nearly eliminated my debts and am about to move on to that phase of my life, with more expanded financial freedom. I just turned 31 and I feel like I have many opportunities still to enjoy things just as much as I would have in my twenties.

Re: Spend money on experiences, not possessions (2009)

#22

Post by sliverstorm »

Hmm... I always hated spending money on things that don't last. Food is the best example- I eat it today, and a week from now I'm 10 dollars poorer with 'nothing' to show for it. Travel poses similar issues.

Though, that is largely tied to a childhood of being super tight on funds. Buy candy, enjoy for 10 minutes, or buy LEGO/game/card, enjoy for months or years.

Re: Spend money on experiences, not possessions (2009)

#23

Post by niels_olson »

sliverstorm wrote: post #22

Hmm... I always hated spending money on things that don't last. Food is the best example- I eat it today, and a week from now I'm 10 dollars poorer with 'nothing' to show for it. Travel poses similar issues. Though, that is largely tied to a childhood of being super tight on funds. Buy candy, enjoy for 10 minutes, or buy LEGO/game/card, enjoy for months or years.

> I eat it today, and a week from now I'm 10 dollars poorer with 'nothing' to show for it.

worse, a few years from now, you still have something to show for it and have to start spending money on bigger pants.

Re: Spend money on experiences, not possessions (2009)

#24

Post by sliverstorm »

starpilot wrote: post #4

I recently realized what the phrase, "Own enough stuff, and it starts to own you" means. The more things you buy, the more you're obligated to use them to justify paying for them. Your time isn't your own anymore ("I bought this guitar, so after work I must practice, also must figure out new SLR camera, and plan trip around new skis..."), and you're hemmed in to pursuing uses for your toys. I think there's a certain…

> "I bought this guitar, so after work I must practice"

You may view that as being trapped by your possessions, but if I buy a guitar it is because I want to learn guitar.

Re: Spend money on experiences, not possessions (2009)

#25

Post by mrkurt »

vinhboy wrote: post #17

Judging from these comments, I must be the only person who does not like traveling. I like hearing stories and learning about other cultures, but the idea of flying around the world seeking adventure is a hassle to me. Does that make me a bad person? Besides, there is so much to do as is, like learn assembly. =)

I've traveled enough to know I'm not a huge fan of it. It is a hassle.

That said, I think I'd enjoy living in a unique place 3-5 months out of each year.

Re: Spend money on experiences, not possessions (2009)

#26

Post by mrkurt »

This is why I'm awfully proud of our senior class gift in high school. Random, I know.

Most high school classes give something like a couch, or a sign, or a statue, or something else that they can engrave their class name on. We, however, gave the long time crossing guard an all expense paid vacation to Hawaii. I will always remember the look on her face when it was presented, and I can imagine it being a fantastic break for a lady who made very little money and somehow always looked happy.

We bought ourselves an experience.

Re: Spend money on experiences, not possessions (2009)

#27

Post by sliverstorm »

vinhboy wrote: post #17

Judging from these comments, I must be the only person who does not like traveling. I like hearing stories and learning about other cultures, but the idea of flying around the world seeking adventure is a hassle to me. Does that make me a bad person? Besides, there is so much to do as is, like learn assembly. =)

Not the only one. I teeter somewhere inbetween.

Most places in the USA are unremarkable; as my mother would say when my father talks about visiting a new state park, "seen one tree, seen 'em all". Cities nationwide are relatively the same beyond superficial differences. I spent a week in Rhode Island a year ago, and today I couldn't tell you any way it was meaningfully different from the Silicon Valley besides 'it had old buildings'.

On the other hand, visiting Japan as a teenager was really cool.

Re: Spend money on experiences, not possessions (2009)

#28

Post by Monkeyget »

There has been quite a bit of research concerning money, materialism and happiness. This paper makes a good overview of current research on the subject and links to other papers : http://bss.sfsu.edu/rhowell/Pubs%20-%20PDF/Howell_Hill_JPP_0...

It's a really interesting topic. There is a diminishing return effect : when you are poor more money does make you more happy but after a certain point (where basic needs are satisfied) there is a drop off in the benefits of added money.

From research it appears that materialism have a negative effect on happiness. This meta-analysis confirms it by looking at the existing studies on the subject : http://lilt.ilstu.edu/staylor/csdcb/articles/volume6/wright%...

The first cited paper suggests that spending money on experiences will yield a greater happiness than spending money on stuff.

Re: Spend money on experiences, not possessions (2009)

#29

Post by DisposaBoy »

vinhboy wrote: post #17

Judging from these comments, I must be the only person who does not like traveling. I like hearing stories and learning about other cultures, but the idea of flying around the world seeking adventure is a hassle to me. Does that make me a bad person? Besides, there is so much to do as is, like learn assembly. =)

I think I'm in the same boat, kinda. I love the idea of visiting places, I enjoy learning about other people(culture, their lives, experiences, history) but the idea of traveling there... It's just not for me, I sometimes wonder if I'm simply stuck in the wrong time, because if we had teleportation things would definitely be different.

Re: Spend money on experiences, not possessions (2009)

#30

Post by kiddo »

mrkurt wrote: post #25
vinhboy wrote: post #17

Judging from these comments, I must be the only person who does not like traveling. I like hearing stories and learning about other cultures, but the idea of flying around the world seeking adventure is a hassle to me. Does that make me a bad person? Besides, there is so much to do as is, like learn assembly. =)

I've traveled enough to know I'm not a huge fan of it. It is a hassle. That said, I think I'd enjoy living in a unique place 3-5 months out of each year.

Traveling doesn't have to be a hassle. Maybe you should try doing it in a different way. It's hard for me to offer a specific suggestion without knowing where you're from, where you've traveled, and how you've traveled.
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